Urjit Patel resigns as RBI governor

Mumbai: In a surprising development, the Reserve Bank of India governor Urjit Patel resigned on Monday evening, citing personal reasons.

“On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management has been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future,” Patel said in a statement.

In a couple of tweets, PM Narendra Modi said:

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